USDA Re-Approves $2.4M Grant for Barfresh's New Ohio Facility
BRFH is trading near its 52-week low of $1.2 (6.2% above the low).
Summary
Barfresh cleared the final USDA hurdle to access a $2.4 million grant for its 44,000-square-foot manufacturing facility in Defiance, Ohio. The re-approval follows updated design and equipment plans after the Arps Dairy acquisition. Funds must be used by end of 2026, aligning with the company's schedule. This is a meaningful step for a company with a $20.8M market cap and recent going concern doubts, as the new facility is expected to improve production economics and profitability. The news follows a Nasdaq delisting notice and CFO departure, so operational progress is critical.
At the time of this announcement, BRFH was trading at $1.27 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $20.8M. The 52-week trading range was $1.20 to $6.08. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.